2nd time unlucky...entered long as price dipped below channel. retraced and closed position for another loss. Quite possibly RSI was not greater than 65, so maybe need stronger RSI. {image}
We should wait for Laura's comments though.
- #682
- Apr 27, 2020 7:48am Apr 27, 2020 7:48am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
2nd time unlucky...
Recently I got in on the channel failure.... Locked at be.... Out again at a decisive close below the channel could warn for a change in direction
- #685
- Apr 27, 2020 8:01am Apr 27, 2020 8:01am
- Joined Oct 2017 | Status: Trader | 1,000 Posts
Anything above the line is an uptrend, below the line is a downtrend.
- #686
- Apr 27, 2020 8:06am Apr 27, 2020 8:06am
for some reason I cant get sma 200 meter to work anyone help?
Otherwise check your settings:
And otherwise, if you have Teamviewer, feel free to send me your ID and the password, I'll be happy to enter your workspace and check it out.
Trading S/R with PA only. No indicators anymore!
- #688
- Apr 27, 2020 8:25am Apr 27, 2020 8:25am
- Joined Oct 2017 | Status: Trader | 1,000 Posts
Anything above the line is an uptrend, below the line is a downtrend.
- #691
- Apr 27, 2020 8:40am Apr 27, 2020 8:40am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Here's an oil trade taken today on M1 timeframe. It's always nice to catch these runners from time to time{image}
- #695
- Apr 27, 2020 9:12am Apr 27, 2020 9:12am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Here's a trade that would have been a good candidate for the multi-bullet approach, had I not already entered with full size.
I would have fired my second and third bullets when the top band of the EMA touched the SMA.
However, all ended well, with price eventually heading for the previous day's low.
update on usd/cfh made decent pips. exited at the red cross
Quick question Laura I nearly exited on a loss when price went passed the 200SMA and was outside the channel. Should I have exited at that point or held on like I did as the channel had not completely crossed.
Quick question Laura I nearly exited on a loss when price went passed the 200SMA and was outside the channel. Should I have exited at that point or held on like I did as the channel had not completely crossed.
- #697
- Apr 27, 2020 9:25am Apr 27, 2020 9:25am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
update on usd/cfh made decent pips. exited at the red cross {image} Quick question Laura I nearly exited on a loss when price went passed the 200SMA and was outside the channel. Should I have exited at that point or held on like I did as the channel had not completely crossed.
You were right to hold on due to channel staying above SMA.
Also do you look at the direction of the 200SMA?
I.e if the channel and 200 SMA are in the same direction, do you aim for a larger target and they are opposite you aim for a small target?
By the way I am really liking your system and enjoying learning from you
I.e if the channel and 200 SMA are in the same direction, do you aim for a larger target and they are opposite you aim for a small target?
By the way I am really liking your system and enjoying learning from you
- #699
- Apr 27, 2020 9:45am Apr 27, 2020 9:45am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Also do you look at the direction of the 200SMA? I.e if the channel and 200 SMA are in the same direction, do you aim for a larger target and they are opposite you aim for a small target? By the way I am really liking your system and enjoying learning from you
